Connor Clark & Lunn Investment Management Ltd. Buys Shares of 75,995 Exelixis, Inc. (NASDAQ:EXEL)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Exelixis, Inc. (NASDAQ:EXEL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 75,995 shares of the biotechnology company’s stock, valued at approximately $1,972,000.

Several other institutional investors and hedge funds have also made changes to their positions in EXEL. Farallon Capital Management LLC raised its position in Exelixis by 1.6% during the second quarter. Farallon Capital Management LLC now owns 27,102,500 shares of the biotechnology company’s stock worth $608,993,000 after acquiring an additional 424,000 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Exelixis by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 15,163,066 shares of the biotechnology company’s stock worth $340,714,000 after purchasing an additional 61,350 shares during the last quarter. LSV Asset Management lifted its stake in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after buying an additional 2,989,021 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Exelixis by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,137,201 shares of the biotechnology company’s stock valued at $115,434,000 after buying an additional 349,837 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Exelixis by 12.7% during the second quarter. AQR Capital Management LLC now owns 3,281,578 shares of the biotechnology company’s stock worth $73,425,000 after buying an additional 370,199 shares in the last quarter. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $34.00 price objective on shares of Exelixis in a research report on Wednesday, October 30th. UBS Group began coverage on shares of Exelixis in a report on Thursday, September 19th. They issued a “neutral” rating and a $30.00 target price on the stock. TD Cowen lifted their price target on shares of Exelixis from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Truist Financial upped their price objective on shares of Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.44.

Exelixis Stock Up 2.2 %

NASDAQ EXEL opened at $36.38 on Tuesday. Exelixis, Inc. has a fifty-two week low of $19.20 and a fifty-two week high of $36.72. The business has a 50 day moving average price of $30.08 and a two-hundred day moving average price of $25.73. The stock has a market cap of $10.39 billion, a PE ratio of 23.32, a P/E/G ratio of 0.90 and a beta of 0.51.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The business had revenue of $539.50 million during the quarter, compared to the consensus estimate of $490.31 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Exelixis, Inc. will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey Hessekiel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $26.38, for a total transaction of $659,500.00. Following the completion of the sale, the executive vice president now owns 605,325 shares of the company’s stock, valued at approximately $15,968,473.50. This trade represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Haley sold 41,588 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.36, for a total transaction of $1,428,963.68. Following the completion of the sale, the executive vice president now directly owns 288,665 shares in the company, valued at $9,918,529.40. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,736 shares of company stock worth $8,955,710. 2.85% of the stock is currently owned by corporate insiders.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.